This information relates to Shamrock Co. 1. 2. 3. 4. 5. On April 5, purchased merchandise on account from Pharoah Company for $28,600, terms 4/10, n/30. On April 6, paid freight costs of $580 on merchandise purchased from Pharoah. On April 7, purchased equipment on account for $32,000. On April 8, returned $3,500 of April 5 merchandise to Pharoah Company. On April 15, paid the amount due to Pharoah Company in full.
This information relates to Shamrock Co. 1. 2. 3. 4. 5. On April 5, purchased merchandise on account from Pharoah Company for $28,600, terms 4/10, n/30. On April 6, paid freight costs of $580 on merchandise purchased from Pharoah. On April 7, purchased equipment on account for $32,000. On April 8, returned $3,500 of April 5 merchandise to Pharoah Company. On April 15, paid the amount due to Pharoah Company in full.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...
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